Sort out the things that concern you over the weekend.
1. First, I will update the content of last night. Lingnan Co., Ltd. found a third party to purchase the convertible bonds. The purchase price is 115% of the average price of the 20 days before the suspension. I calculated that it is exactly 100 yuan to protect the principal. In addition, this acquisition is a partial acquisition. All bondholders purchase 1,000 bonds, which is 100,000 yuan. More than 1,000 bonds will be discussed later.
In fact, to put it in one sentence, retail investors with less than 100,000 yuan can get back the principal of the bond face value, and those with more than 100,000 yuan will be negotiated later.
This trick is very familiar. Many platforms did the same when p2p exploded in the past few years. The main purpose was to reduce the number of people defending their rights and ease the pressure of complaints and reports. There are many retail investors with less than 100,000 yuan and they can't afford to lose. So they deal with them first, and then slowly compete with the big investors with fewer people and more money.
I also bought junk bonds in my early years. My strategy at that time was to buy only 200,000 yuan in one account. The industry rule at that time was to redeem below 200,000 yuan, which was a rule arbitrage. This time it was changed to 100,000 yuan, and I don’t know if it will drop to 50,000 yuan in a few years.
I remember a friend who used to set up a bunch of accounts to buy junk bonds, each of which was a small amount, and then went to the scene to participate in rights protection or listed company meetings. He said that he saw familiar faces at different scenes, and even heard the few sentences he said every time he stood up to speak, such as family difficulties, raising the elderly and children, and begging for repayment several times in a row. Hahaha, it made me laugh. Don't underestimate this kind of play, the annualized return is much better than stock trading.
2. There is a piece of news that just came out tonight. The Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect will announce the daily total transaction volume, total transaction number, ETF transaction volume, the list of the top ten most active securities and their total transaction volume, and publish summary data on a monthly and annual basis.
I copied and pasted the above paragraph. Do you see the clue? There is only the total transaction amount and the total number of transactions per day, but no other important data. It will be implemented from August 19 (tomorrow), so we will know tomorrow whether it is what I think.
3. The China Securities Regulatory Commission publicly punished the super bullish individual investor Zhang Jianping and his father-in-law Fang Deji because they borrowed each other's securities accounts to trade, and each was fined the maximum amount of 500,000 yuan. When I first started trading stocks, Zhang Jianping could use more than 1 billion yuan of funds to limit the price increase, and two 500,000 yuan was really a drizzle for him. The punishment of the China Securities Regulatory Commission is actually a signal to the market, don't try to borrow accounts to buy stocks to circumvent supervision.
Some readers may think that it is nothing for their family members to borrow accounts to trade stocks, which is very common among ordinary people. But for super large investors, using multiple accounts to buy stocks has a different meaning. I just searched Zhang Jianping and Fang Deji and found that they are both among the top ten shareholders of a listed company.
Zhang Jianping holds 4.88% of the shares. According to regulatory regulations, if the shareholding is above 5%, it is considered as a stake, and the relevant disclosure obligations must be fulfilled for subsequent increases and decreases. If the shareholding is below 5%, it is considered as a retail investor, and the investor can enter and exit freely. Now everyone can understand the significance of this punishment.
By the way, Fang Wenyan is Zhang Jianping’s wife, and she may have borrowed an account as well. As for Fang Zhangle, the name seems to be from the same family.
4. Pien Tze Huang's revenue increased by 12% in the first half of the year, and its profit increased by 11.73%. At first glance, it seems OK, but in fact, if you only look at the second quarter, it is a complete disaster. The revenue in the second quarter was 2.48 billion, up 2.66% year-on-year and down 21.79% month-on-month. The non-net profit was 763 million, down 5.041% year-on-year and down 22.81% month-on-month. Nowadays, the valuation of consumer stocks has shrunk greatly. Moutai's ttmpe has fallen to 22 times. It is a miracle that it still has 42 times.
5. Hikvision's net profit in the first half of the year was 5.06 billion, down 5.13% year-on-year. This performance is certainly not good, but Hikvision has fallen a lot before, and its current valuation is not expensive. Its dividend yield is 3.2%, and its TTPM is 18 times. It is no longer a high-growth stock, but gradually transforming into a value dividend stock. We should be more tolerant of the performance of such companies.
6. Changchun High-Tech's revenue in the first half of the year increased by 7.6%, and its profit decreased by 20%. We found that the main reason for the decrease in profit was the increase in cost. This performance is certainly not good, but Changchun High-Tech's TMPE is only 8.5 times, and its dividend yield is 5.22%, so this performance cannot be said to be lower than expectations, because the expectations reflected in the price are already very poor.
7. "Black Myth: Wukong" will be officially released on August 20. Many WeChat groups have been discussing this game these days. According to early media ratings, IGN China gave it 10 points and IGN International Headquarters gave it 8 points. This score is not excellent, but at least it can ensure that the first domestic 3A masterpiece will not collapse.
I have been playing games for more than 30 years, and I have never played a game developed by a Chinese game company (Xianjian and Xuanyuan are both produced by Taiwan's Dahua). Isn't this incredible? Tencent and NetEase are both among the top five game companies in the world, but their products are not my cup of tea. In fact, games are like songs and movies. There are also different levels of aesthetics. The games made by Tencent and NetEase are indeed very profitable, but I can't play them. For example, it is the difference between Oscar- and Cannes-winning movies and "Reborn as a Domineering President".
But I have already bought the Monkey this time. Although I haven't played it yet, I can confirm that it is the kind of game I am willing to play. It is also the first domestic game I will play. Monkey carries the hopes of many people, and Monkey cannot fail.
The producer of Black Myth: Wukong is Game Science, 70% of the shares of this company are in the hands of the boss and employees, and 18% of the shares are in the hands of Hero Entertainment, which is not a listed company. In addition, Tencent has a small stake, less than 10%, so there are no direct concept stocks in this wave of Monkey King fever, but Huayi Brothers has a stake in Hero Entertainment, so it can barely take advantage of the popularity. Update: The shares of Hero Entertainment were sold a few years ago.
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Finally, I went to see "Alien: Revenge" today and would like to give a brief review.
It is a typical Alien movie. It is exactly like Alien 1, 2, 3, and 4. It has all the necessary elements, and there are novel details. The story is relatively reasonable and complete, but it is not innovative as a whole. It is one of those movies that stays within the framework from beginning to end.
It's highly violent, bloody, exciting, and fast-paced. It's a high-energy movie. I felt physically sick several times. Please remember not to take children under 15 to watch it. Especially when the hybrid appeared at the end, it gave me a tingling sensation on my scalp. As a commercial film that stimulates the senses, I admit that it is absolutely qualified.
But it really doesn't have much depth, and it doesn't have the profound aftertaste of "Prometheus". I passed it after watching it and walked out of the cinema. Overall, I give it a score of 7.5. It is an excellent film of a specific type, but it is far from a classic.
